Mis-Sold Pension Claims

If you felt you were mis sold a pension, or your Sipp has not performed as promised, then you might be one of many people eligible to claim compensation. Mis sold pension claims can arise for a number of reasons and thousands of people are currently seeking financial compensation as a result of pensions that have been poorly handled by providers or Independent Financial Advisors (IFAs). Making a claim for compensation could help you to get your money back.

Mis sold pension claims

There are no set criteria for what could constitute a mis sold pension. However, there are a number of factors that will have an influence over whether this is the case, including:

1. Lack of information. If you weren’t given enough information to make an informed decision then you may have been mis sold your pension.
2. Poor advice. For example, if you were advised to take out a specific type of pension but this was clearly the wrong option for you.
3. No choice. Not being given the chance to shop around for pension deals is another reason why many people make mis sold pension claims.
4. Personal circumstances. The advisor should enquire about your personal circumstances, in particular any health or medical issues. If there was no enquiry, or these weren’t taken into account, then the pension may have been mis sold.

Mis sold Sipp claims

Sipps are designed to give individuals more control over how their pension is invested. However, mis sold Sipp claims have arisen as a result of poor advice that has resulted in pensions being invested unsafely or unwisely. IFAs and providers must make sure that Sipp funds meet the needs of the investor and that they are aligned with the investor’s risk profile. You may have been mis sold a Sipp if any of the following seems familiar:

– You were given assurances that the value of the Sipp would increase but it has actually fallen
– You were not given adequate information about what could have an impact on the value of the Sipp
– It was suggested that you change your Sipp investments but you weren’t given proper reasons as to why you should be doing this
– You were encouraged to invest your Sipp in one of a number of unregulated investments, including biofuels, green oil or property located outside of the UK

Mis sold pensions claims / Sipp claims

Pensions, in whatever form, are crucial to ensuring that you have a comfortable retirement – it’s essential to protect your investment in the future. If you have suffered financial losses as a result of pension mis selling then you’re entitled to make a claim, as you may have been misled over the investments made and may not have been given enough information to make fully informed decisions. Multiple claims for mis sold pensions and Sipps have already been successful and you could receive compensation for the losses you have suffered, as well as for the mis selling.